The first question many people ask themselves, a merchant cash advance? Mature companies have a year or more with the Visa and MasterCard sales from loans, or to their previous activities of up to 150,000 U.S. dollars in advance to benefit qualfiy merchants, financial institutions and 25 million or more locations, each a true merchant cash advance companies. Visa and MasterCard to their average monthly sales × 1.5 will be a qualified amount of funds to establish the company's loans. HereYou are an example, it provides a monthly average of VISA and MasterCard sales of $ 50,000, compared with last year your company. The lender will use the $ 50,000 × 1.5, so in this case, the loan base of 75 000 U.S. Dollar. Quite good, gambling, you do not know, outside of these procedures.
There are many merchant cash advance or loan programs. Some are in the form of loans and other companies to enter in the form of a merchant cash advance, but the formula for eligibility for loansFrom the past MasterCard / Visa sales. Control of Merchant Cash Advance program can provide up to Erbaiwushi Dian ○ ○ dollars and 300,000 yuan, the interest rate can range from 25-40% annually. The provision of loans by the bank's banking supervision regulations and generally low. Which, of course, it is important to compare the program to understand the implementation of your costs, time, pay back the money back, and other risk factors, you may have.
Other issues examined are the kinds ofCompany qualfiy for these types of programs? The following are only a few belong to the loan qualifications:
Car rental, automobile centers, beauty nail salons, dry cleaners, gas stations, all kinds of retailers, restaurants, bars / clubs, distributors, dental / medical practice and service providers.
The next question is, what is these traders cash loans and credit schemes some of the features:
* Loan or merchant cash advances range from5,000 yuan to 250,000 yuan.
* No tax returns, financial statements or asset documentation required.
* Up to a year to repay loans of between 6-8 months, business cash advances.
* No large fixed monthly fee, you pay for the future the percentage of credit card sales, so by the end of your cycle to recover the use of funds.
* In the fast-track approval within two days. Funded within seven business days.
* No hidden costs andNo late fees.
* Poor personal credit accepted. This is not a FICO score driven, so that credit is not an issue before this bankruptcy no problem.
* Pre-qualification, you have your own business at least one year.
* Pre-qualification, you have to 3,000 yuan, with an average monthly credit card billing revenue.
The next obvious question is how we repay the loan or to return cash merchant advance? This is from the future sale of cards, pay a small part of the day, will retireRecovery of loans. This is important because it is that there is no balloon payment or monthly payment. Lenders charge a small daily payment a year.
How deep to allow FICO score? This may be as high as 500 low, but each case its own position.
In addition, this loan or overdraft distributors, your business can be further increased, this process re-paid. The money is a great programThe enterprises have seasonal cash flow or need the money for any commercial purposes, is your decision.
As a result, there are many different types of programs there, you have to be careful and comparative advantages and disadvantages of each one to see which best suits your business.
Thank you ............. JM Moon
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